Bonhams Dubai auction nets $1.8m

Dubai, October 14, 2009

Bonhams, the international fine art auction house, achieved total sales of over $1.8 million by selling more than 70 per cent by lot at its Modern & Contemporary Middle Eastern & South Asian Art auction in Dubai.

“The region has seemingly weathered the downturn in the economic market and collectors were notably enthusiastic to bid for the works of art we had on offer. I am optimistic that in 2010, we shall see the Dubai art market firmly back on the road to recovery,” said Mathew Girling, chief executive (UK & Europe) Bonhams.

“The South Asian (India and Pakistan) paintings sold a lot better than expected. The Tagore ‘Illumination of the Shadow’ went at ten times asking, which was incredible. It shows the strong demand in this region. This has given us a platform to work from and we look forward to the next sale in May 2010 with renewed vigour,” added Mehreen Rizvi, head of South Asian and Middle East Art at Bonhams.-TradeArabia News Service